Janney Montgomery Scott LLC Has $533,000 Stock Holdings in Lear Corporation (NYSE:LEA)

Janney Montgomery Scott LLC lessened its stake in shares of Lear Corporation (NYSE:LEA - Free Report) by 29.1% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 6,037 shares of the auto parts company's stock after selling 2,475 shares during the period. Janney Montgomery Scott LLC's holdings in Lear were worth $533,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Lear by 88.8% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 7,249 shares of the auto parts company's stock worth $640,000 after acquiring an additional 3,409 shares during the period. SummerHaven Investment Management LLC lifted its holdings in Lear by 2.3% during the 1st quarter. SummerHaven Investment Management LLC now owns 6,785 shares of the auto parts company's stock worth $599,000 after purchasing an additional 152 shares during the last quarter. Fifth Third Bancorp boosted its stake in Lear by 131.8% in the 1st quarter. Fifth Third Bancorp now owns 765 shares of the auto parts company's stock valued at $67,000 after purchasing an additional 435 shares during the period. CX Institutional acquired a new position in Lear in the 1st quarter valued at $71,000. Finally, GAMMA Investing LLC increased its position in Lear by 57.9% during the 1st quarter. GAMMA Investing LLC now owns 938 shares of the auto parts company's stock worth $83,000 after buying an additional 344 shares during the period. 97.04% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

LEA has been the subject of a number of recent research reports. Wells Fargo & Company boosted their price objective on shares of Lear from $100.00 to $103.00 and gave the company an "equal weight" rating in a report on Tuesday. Barclays cut Lear from an "equal weight" rating to a "negative" rating in a research note on Tuesday, April 15th. UBS Group raised their price objective on Lear from $83.00 to $95.00 and gave the stock a "neutral" rating in a research note on Wednesday, May 7th. Wall Street Zen upgraded Lear from a "hold" rating to a "buy" rating in a research report on Thursday, May 15th. Finally, JPMorgan Chase & Co. increased their target price on Lear from $119.00 to $120.00 and gave the stock an "overweight" rating in a report on Friday, May 9th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $108.55.

Insiders Place Their Bets

In other news, Director Conrad L. Mallett, Jr. sold 1,187 shares of the firm's stock in a transaction on Monday, June 16th. The shares were sold at an average price of $92.86, for a total transaction of $110,224.82. Following the completion of the transaction, the director owned 84 shares of the company's stock, valued at approximately $7,800.24. This trade represents a 93.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.91% of the stock is owned by insiders.

Lear Price Performance

Shares of NYSE LEA traded up $0.38 during mid-day trading on Thursday, hitting $103.58. 329,021 shares of the stock traded hands, compared to its average volume of 711,963. The company has a market cap of $5.54 billion, a PE ratio of 12.14, a price-to-earnings-growth ratio of 0.56 and a beta of 1.29. Lear Corporation has a twelve month low of $73.85 and a twelve month high of $126.85. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.32 and a quick ratio of 1.03. The firm has a 50 day simple moving average of $90.99 and a two-hundred day simple moving average of $91.58.

Lear (NYSE:LEA - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The auto parts company reported $3.12 EPS for the quarter, beating analysts' consensus estimates of $2.64 by $0.48. The firm had revenue of $5.56 billion for the quarter, compared to analyst estimates of $5.47 billion. Lear had a return on equity of 14.53% and a net margin of 2.09%. The business's revenue for the quarter was down 7.2% on a year-over-year basis. During the same period last year, the firm posted $3.18 earnings per share. As a group, equities research analysts forecast that Lear Corporation will post 12.89 EPS for the current fiscal year.

Lear Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 25th. Shareholders of record on Thursday, June 5th were issued a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a yield of 2.97%. The ex-dividend date of this dividend was Thursday, June 5th. Lear's payout ratio is 36.11%.

About Lear

Lear Corporation designs, develops, engineers, manufactures, assembles, and supplies automotive seating, and electrical distribution systems and related components for automotive original equipment manufacturers in North America, Europe, Africa, Asia, and South America. Its Seating segment offers seat systems, seat subsystems, keyseat components, seat trim covers, seat mechanisms, seat foams, and headrests, as well as surface materials, such as leather and fabric for automobiles and light trucks, compact cars, pick-up trucks, and sport utility vehicles.